Crypto, You're Out! AI and Machine Learning Steal the Show in 2024
June 24, 2024 | Read Online | | | | Hey Crypto Enthusiasts, | Welcome back to your go-to source for the latest and greatest in the world of digital finance and blockchain! This week, we're unpacking some eye-opening insights from JPMorgan's 2024 e-Trading survey, revealing where the big players in the trading world are placing their bets. | | INNOVATE
JPMorgan Survey: Institutional Traders Largely Shun Crypto, Favor AI and Machine Learning | | Key Points: | Crypto Snub: 78% of institutional traders have no plans to dabble in cryptocurrencies over the next five years. AI Ascendancy: 61% of traders predict AI and machine learning will revolutionize trading practices in the near future. Blockchain's Decline: Only 7% view blockchain as a game-changer, down from 25% two years ago. Market Drivers: Inflation, the U.S. election, and recession risks are the top concerns for traders in the coming year.
| Deep Dive: | In a surprising twist, a whopping 78% of institutional traders are steering clear of cryptocurrencies, at least for the foreseeable future. This marks a significant stance of skepticism within the trading community, even as digital assets continue to make headlines. | But it's not all doom and gloom for tech in trading. The survey highlights a growing confidence in artificial intelligence and machine learning. A robust 61% of respondents believe these technologies will be the most transformative in the next three years, up from 53% in last year's survey. This shift underscores a pivot towards innovations that promise to streamline and enhance trading strategies. | Blockchain, once heralded as the future of finance, seems to be losing its luster among traders. A mere 7% now see it as a key transformative force, a stark drop from 25% two years ago. It appears the hype has cooled, and traders are recalibrating their expectations. | Despite the lukewarm reception for crypto, there's a slight uptick in engagement. The percentage of traders actively dealing in cryptocurrencies rose from 8% last year to 9% this year, with another 12% considering future trades. This modest growth could be a response to the industry's resilience and the recent approval of spot bitcoin ETFs in the U.S. | Interestingly, traders are keeping a close eye on broader economic factors. Inflation, the impending U.S. election, and recession fears are seen as the top influences on market trends for the year ahead, painting a picture of a cautious but strategic trading environment. | | Why it matters: | Understanding these shifts is crucial for anyone looking to navigate the evolving landscape of trading and investment. The move towards AI and machine learning highlights where innovation is likely to drive future growth, while the tempered expectations for blockchain suggest a more measured approach to adopting new technologies. | Curious about the future of trading and where the smart money is headed? Click HERE for the full scoop and stay ahead of the game with our comprehensive analysis! | Happy Trading,
The Crypto News Team | P.S. Don't miss out on the latest insights and trends in the world of finance and tech! Sign Up to our newsletter for exclusive updates and expert analyses. Be part of the informed and savvy community making waves in the financial world! Don't miss out on the latest tech and crypto updates! | | |
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